Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    E Covell Rd Edmond, OK

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Corner commercial land near Edmond North High School and I-35.

    Type:LAND
    Lot size:
    1.02 Acres
    Added:
    Jan 9, 2024
    Days on Market:
    835
    Last Refresh:
    Apr 5 at 8:40 pm

    Property Features for E Covell Rd

    General Information

    Standard status
    Active
    Lot size
    1.02 Acres
    Property subtype
    LAND

    We can help!

    Listing Contact
    Todd Herndon

    Listing agent Todd Herndon

    Listing office Herndon & Kelley Commercial Real Estate

    Listing date Jan 9, 2024

    Source Moodyscre

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Herndon & Kelley Commercial Real Estate

    Overview

    Commercial Land Near Edmond North

    This commercial land is located on a corner near Edmond North High School, Pizza Hut, Phillips 66, and Sonic. The property is situated close to I-35, Lowes, and the Golf Club of Edmond. Water is available on Covell Road, and the sewer line is approximately 300 feet to the east.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Edmond
    County
    Oklahoma
    State
    Oklahoma
    Longitude
    -97.4866
    Latitude
    35.6832

    Nearby Similar for Sale

    • $750,000
      7,480 SF

      Edmond Commercial Property For Sale

      Commercial property in a highly visible Edmond location.
      1301 S Broadway unit: 100, Edmond, OK 73034
      View Details
    • $650,000
      2,621 SF

      Professional Office Building Near Rose Creek

      Freestanding office building in a high-demand Oklahoma City corridor.
      17342 N May Avenue, Edmond, OK 73012
      View Details
    • $795,000
      7,573 SF

      Edmond Office Building For Sale

      Commercial office property in Edmond, Oklahoma, with 7573 square feet.
      1900 E 15th Street unit: 600, Edmond, OK 73013
      View Details
    • $740,000

      Edmond Commercial Land For Sale

      1.89 acres of industrial land in a high-traffic commercial area.
      S Fretz Avenue, Edmond, OK 73013
      View Details
    • $1,650,000

      Prime Commercial Corner in Edmond

      3+ acre commercial site with high visibility and traffic.
      E Waterloo Road, Edmond, OK 73013
      View Details
    • $629,000
      4,264 SF

      Edmond Duplex Near UCO Campus

      Well-maintained duplex near University of Central Oklahoma, great investment opportunity.
      1120 E Campbell St unit: 1120 & 1124, Edmond, OK 73034
      View Details
    • $523,000
      6,000 SF

      Industrial Building in Koloa Park

      6,000 SqFt industrial building in Edmond, OK for sale.
      11770 Black Sand Drive, Edmond, OK 73034
      View Details
    • $389,900
      3,190 SF

      East Edmond Duplex Investment Opportunity

      Spacious duplex in prime location near schools and amenities.
      1404 Mary Lee Lane, Edmond, OK 73034
      View Details
    • $3,499,000
      1,344 SF

      Edmond Commercial Land Opportunity

      6.30 acres in rapidly expanding area of northeast Edmond, Oklahoma.
      1300 N Air Depot Boulevard, Edmond, OK 73034
      View Details
    • $275,000
      2,058 SF

      Edmond Duplex Near UCO

      Duplex in prime location near UCO with fenced yards.
      124 Barrett Place, Edmond, OK 73003
      View Details
    • $350,000

      Edmond Land in Saratoga Farms

      Buildable lot in gated community near schools, shopping, and highways.
      Lot 29 Saratoga Way, Edmond, OK 73003
      View Details
    • $499,000
      3,100 SF

      Edmond Duplex Near University

      New construction duplex in Edmond, near the University of Central Oklahoma.
      9 N State Street, Edmond, OK 73003
      View Details

    FAQs

    What type of property is this?
    Land - Corner commercial land near Edmond North High School and I-35.
    Where is this land located?
    The property is located at E Covell Rd Edmond, OK.
    What is the asking price?
    The asking price for this property is $821,977.
    What are key features of this property?
    This property features: Corner lot location.; Proximity to Edmond North High School.; Close to I‑35.
    (405) 848-8099 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Todd Herndon
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!